News

Global E-waste Surging: Up 21% in 5 Years

A record 53.6 million tonnes (Mt) of e-waste was produced globally in 2019,
the weight of 350 cruise ships the size of the Queen Mary 2;
$57 billion in gold and other components discarded – mostly dumped or burned

(Released from Bonn, Geneva, Vienna, London and Toronto
July 2, 2020
The report in full, including regional e-waste breakdowns, is available for media preview at https://bit.ly/3dFDZQQ
Post-embargo at: www.globalewaste.org
Video, photos, graphics, backgrounders: https://bit.ly/2AapxCI
Lead contact: Terry Collins, +1-416-878-8712, tc@tca.tc )

A record 53.6 million metric tonnes (Mt) of electronic waste was generated worldwide in 2019, up 21 per cent in just five years, according to the UN’s Global E-waste Monitor 2020.

The new report also predicts global e-waste — discarded products with a battery or plug — will reach 74 Mt by 2030, almost a doubling of e-waste in just 16 years. This makes e-waste the world’s fastest-growing domestic waste stream, fueled mainly by higher consumption rates of electric and electronic equipment, short life cycles, and few options for repair.

Only 17.4 per cent of 2019’s e-waste was collected and recycled. This means that gold, silver, copper, platinum and other high-value, recoverable materials conservatively valued at US $57 billion — a sum greater than the Gross Domestic Product of most countries – were mostly dumped or burned rather than being collected for treatment and reuse.

According to the report, Asia generated the greatest volume of e-waste in 2019, some 24.9 Mt, followed by the Americas (13.1 Mt) and Europe (12 Mt), while Africa and Oceania generated 2.9 Mt and 0.7 Mt respectively.

For perspective, last year’s e-waste weighed substantially more than all the adults in Europe, or as much as 350 cruise ships the size of the Queen Mary 2, enough to form a line 125 km long.

E-waste is a health and environmental hazard, containing toxic additives or hazardous substances such as mercury, which damages the human brain and / or coordination system.

Other key findings from the Global E-waste Monitor 2020:
• Proper e-waste management can help mitigate global warming. In 2019, an estimated 98 Mt of CO2-equivalents were released into the atmosphere from discarded fridges and air-conditioners, contributing roughly 0.3 per cent of global greenhouse gas emissions
• In per capita terms, last year’s discarded e-waste averaged 7.3 kg for every man, woman and child on Earth
• Europe ranked first worldwide in terms of e-waste generation per capita with 16.2 kg per capita. Oceania came second (16.1 kg) followed by the Americas (13.3 kg). Asia and Africa were much lower: 5.6 and 2.5 kg respectively
• E-waste is a health and environmental hazard, containing toxic additives or hazardous substances such as mercury, which damages the human brain and / or coordination system. An estimated 50 tonnes of mercury – used in monitors, PCBs and fluorescent and energy-saving light sources – are contained in undocumented flows of e-waste annually
• E-waste in 2019 was mainly comprised of small equipment (17.4 Mt), large equipment (13.1 Mt), and temperature exchange equipment (10.8 Mt). Screens and monitors, lamps, small IT, and telecommunication equipment represented 6.7 Mt, 4.7 Mt, and 0.9 Mt respectively
• Since 2014 the e-waste categories increasing fastest in total weight terms: temperature exchange equipment (+7 per cent), large equipment (+5 per cent), lamps and small equipment (+4 per cent). According to the report, this trend is driven by the growing consumption of those products in lower income countries, where those products improve the living standards. Small IT and telecommunication equipment have been growing more slowly, and screens and monitors have shown a slight decrease (-1 per cent), explained largely by lighter flat panel displays replacing heavy CRT monitors and screens

• Since 2014, the number of countries that have adopted a national e-waste policy, legislation or regulation in place has increased from 61 to 78. While a positive trend, this is far from the target set by the International Telecommunication Union which is to raise the percentage of countries with an e-waste legislation to 50 per cent


The Global E-waste Monitor 2020 (www.globalewaste.org) is a collaborative product of the Global E-waste Statistics Partnership (GESP), formed by UN University (UNU), the International Telecommunication Union (ITU), and the International Solid Waste Association (ISWA), in close collaboration with the UN Environment Programme (UNEP). The World Health Organization (WHO) and the German Ministry of Economic Cooperation and Development (BMZ) also substantially contributed to this year’s Global E-waste Monitor 2020.


Comments

“The findings of this year’s UNU-affiliated Global E-waste Monitor suggest that humanity is not sufficiently implementing the SDGs. Substantially greater efforts are urgently required to ensure smarter and more sustainable global production, consumption, and disposal of electrical and electronic equipment. This report contributes mightily to the sense of urgency in turning around this dangerous global pattern.”

  • David M. Malone, Rector United Nations University (UNU) & UN Under Secretary General

“Far more electronic waste is generated than is being safely recycled in most parts of the world. More cooperative efforts are required to make aware of this increasing issue and take appropriate countermeasures supplement by appropriate research and training. I am pleased that UNITAR now joins this important Global E-waste Statistics Partnership of UNU, ITU and ISWA, illustrating how valuable these activities are.”

  • Nikhil Seth, Executive Director, United Nations Institute for Training and Research (UNITAR) & UN Assistant Secretary-General

”The Global E-waste Monitor highlights the pressing issue of e-waste management in today’s digitally connected world in that the way we produce, consume, and dispose of electronic devices has become unsustainable. Monitoring e-waste streams will contribute to the achievement of the Sustainable Development Goals and tracking the implementation of the ITU Connect 2030 Agenda. The Monitor serves as a valuable resource for governments to improve their global e-waste recycling rate by developing the necessary/needed/required e-waste policies and legislation. ITU will continue to support the efforts made in this report towards the global response required in identifying solutions for e-waste.”

  • Doreen Bogdan-Martin, Director, Telecommunication Development Bureau, International Telecommunication Union (ITU)

“E-waste quantities are rising 3 times faster than the world’s population and 13 per cent faster than the world’s GDP during the last five years. This sharp rise creates substantial environmental and health pressures and demonstrates the urgency to combine the fourth industrial revolution with circular economy. The fourth industrial revolution either will advance a new circular economy approach for our economies or it will stimulate further resource depletion and new pollution waves. The progress achieved in e-waste monitoring by the Global E-waste Statistics Partnership is a sign of hope that the world can manage not only to monitor closely the e-waste rise but also to control their impacts and set up proper management schemes”

  • Antonis Mavropoulos, President, International Solid Waste Association (ISWA)

“Informal and improper e-waste recycling is a major emerging hazard silently affecting our health and that of future generations. One in four children are dying from avoidable environmental exposures. One in four children could be saved, if we take action to protect their health and ensure a safe environment. WHO is pleased to join forces in this new Global E-waste Monitor to allow evidence, information about health impacts and joint solutions and policies to be made available to protect our future generations’ health.”

  • Maria Neira, Director, Environment, Climate Change and Health Department, World Health Organization (WHO)

Join the conversation on social media using hashtag #eWaste



Media contacts:
• Terry Collins, +1 416 878 8712; tc@tca.tc
• Ruediger Kuehr, Director UNU-ViE SCYCLE, +49 228 815 0213/4, kuehr@vie.unu.edu
• Monika Gehner, Head Strategic Communication Division, International Telecommunication Union (ITU), Phone: +41 22 730 5459, Press line: +41 22 730 6039, E-mail: pressinfo@itu.int
• Georgiana Olivier, Communications Manager, International Solid Waste Association (ISWA), +31 636 06 41 83, golivier@iswa.org


About the Global E-waste Statistics Partnership (GESP)

The GESP helps countries compile useful national policy-making statistics using an internationally-recognized harmonized measurement framework. The GESP convenes policy makers, statisticians, and industry representatives to enhance the quality, and their understanding and interpretation of e-waste data. At the global level, the GESP contributes to the monitoring of relevant waste streams, measuring progress towards the Sustainable Development Goals 11.6, 12.4 and 12.5. The GESP allows international organizations, such as the ITU, to measure progress towards their goals. In 2018, the ITU established a target to increase the global e-waste recycling rate to 30 per cent by 2023 – a 12.6 per cent increase from today’s global average.

About the United Nations University (UNU)

UNU is an autonomous organ of the UN General Assembly dedicated to generating and transferring knowledge and strengthening capacities relevant to global issues of human security, development, and welfare. The University operates through a worldwide network of research and training centres and programmes, coordinated by UNU Centre in Tokyo.

The Bonn, Germany-based Sustainable Cycles (SCYCLE) Programme, co-hosted by UNU’s Vice Rectorate in Europe and the United Nations Institute for Training and Research (UNITAR), provides world-class research and action on e-waste. SCYCLE aims to enable societies to reduce the environmental burden caused by the production, consumption and disposal of ubiquitous goods.

About the International Telecommunication Union (ITU)

The International Telecommunication Union (ITU) is the specialized United Nations agency for information and communication technologies (ICTs), driving innovation in ICTs together with 193 Member States and a membership of over 900 companies, universities, and international and regional organizations. Established over 150 years ago in 1865, ITU is the intergovernmental body responsible for coordinating the shared global use of the radio spectrum, promoting international cooperation in assigning satellite orbits, improving communication infrastructure in the developing world, and establishing the worldwide standards that foster seamless interconnection of a vast range of communications systems. From broadband networks to cutting-edge wireless technologies, aeronautical and maritime navigation, radio astronomy, oceanographic and satellite-based earth monitoring as well as converging fixed-mobile phone, Internet and broadcasting technologies, ITU is committed to connecting the world. For more information, visit: www.itu.int.

About the United Nations Institute for Training and Research (UNITAR)

As a dedicated training arm of the United Nations System, the United Nations Institute for Training and Research (UNITAR) provides innovative learning solutions to individuals, organizations and institutions to enhance global decision-making and support country-level action for shaping a better future. UNITAR was created in 1963 to train and equip young diplomats from newly-independent UN Member States with the knowledge and skills needed to navigate through the diplomatic environment. Over the years, UNITAR has acquired unique expertise and experience in designing and delivering a variety of training activities. We have become a leading institute in the provision of customized and creative learning solutions to institutions and individuals from both public and private sectors. With a strategy fully focused on achieving the Sustainable Development Goals (SDGs), UNITAR supports Governments to implement the 2030 Agenda.

About the International Solid Waste Association (ISWA)

The International Solid Waste Association (ISWA) is a global, independent and non-profit making association, working in the public interest promoting sustainable, comprehensive and professional waste management and the transition to a circular economy. ISWA is open to individuals and organisations from the scientific community, public institutions as well as and public and private companies from all over the world working in the field of or interested in waste management. ISWA is the only worldwide waste association that enables its members to network with professionals, companies and institutional representatives.

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Global E-waste Surging: Up 21% in 5 Years Read More »

UN General Assembly holds elections under coronavirus conditions

New York, June 17-18 – Constrained by the severe impacts of coronavirus, the UN General Assembly elected its new president and five non-permanent members of the UN Security Council by holding a non-plenary meeting in which voters stepped forward to cast ballots wearing facial masks and maintaining strict social distancing.

The 193-member assembly elected Volkan Bozkir of Turkey as its president for the September 2020-September 2021 period, which marks the 75th anniversary of the founding of the United Nations.

The assembly elected India, Ireland, Mexico, Norway and Kennya as non-permanent members for two-year terms of the 15-nation UN Security Council. The newly elected countries will replace the five non-permanent members that will exit the council as of December 31 this year. The council is the most important political body in the UN system as it holds decision making power over issues of peace and security in the world.

 The UN Security Council membership starting on January 1, 2021 are: permanent members: the United States, Russia, China, France and the United Kingdom. The 10 non-permanent members are: India, Ireland, Kenya, Mexico, Niger, Norway, St. Vincent and Grenadines, Estonia and Vietnam.

 Tijjani Muhammad-Bande, the current assembly president, said the procedure for the elections was applied for the first time in UN history in order to meet health-related requirements under the Covid-19 pandemic. In normal times before the pandemic the assembly met in a plenary session to carry out its programs.

The pandemic has compelled the UN to scale down or postpone scheduled meetings in 2020. For the upcoming annual UN General Assembly session in September, it has been decided that heads of states and governments are not required to show up and instead send only two representatives to meetings.  “Since the onset of the COVID-19 pandemic, we have all had to work under extraordinary conditions to overcome the myriad of challenges facing us. Indeed, the elections represented our common commitment to ensuring the uninterrupted continuation of the important work of the United Nations, in accordance with the values and principles of the United Nations Charter,” Muhammad-Bande said.

UN General Assembly holds elections under coronavirus conditions Read More »

Pandemic upends world’s important events from Olympics to UN meetings

Update

New York, June 10 – With the coronavirus pandemic inflicting daily infections and deaths in many countries, the United Nations for the first time ever has informed national leaders of 193 countries that are UN members to stay home and take part in the organization’s most important annual meetings in September only through video conferences.

The decision to hold only virtual meetings has disrupted the elaborate programming of a series of celebrations to mark the 75th anniversary of the creation of the UN.

 Since March this year UN meetings were either cancelled or held through a digital platform in order to meet strict health regulations by the US government designed to blunt the spread of coronavirus.

Heads of state and government, or ministers representing them, are asked to send pre-recorded video statements that will be played up during the UN General Assembly session starting on September 22.

 Each country can send only two representatives to the assembly meetings and are reminded that they must be physically free of symptoms consistent with Covid-19, maintain physical distancing and wear a face covering while inside the UN premises.

 The assembly session each year has been attended by thousands of delegates from the 193 countries.

A commemoration to mark the 75th anniversary of the signing of the Charter of the United Nations on June 26 was to be held via a virtual platform. 

 The United Kingdom on May 28 postponed a climate change conference known as COP26 until November 2021, a decision that surprised no one considering that the Covid-19 pandemic’s lockdown and social distancing around the world has already upended the meticulous setup of the program of UN-related meetings this year.

Cop26 was scheduled to take place in November 2020 in Glasgow so an extra 18-month delay would give London and its Italian partners plenty of time to prepare for the annual conference designed to take action on the Paris climate change agreement. Past COP meetings attracted thousands of participants and organizers fear such a vast attendance would cause health risks.

‘With the new dates for COP26 now agreed we are working with our international partners on an ambitious roadmap for global climate action between now and November 2021,” said Alok Sharma, who is CPO26 president. “The steps we take to rebuild our economies will have a profound impact on our societies’ future sustainability, resilience and wellbeing and COP26 can be a moment where the worldunites behind a clean resilient recovery.”

“Everyone will need to raise their ambitions to tackle climate change and the

expertise of the Friends of COP will be important in helping boost climate action

across the globe,” Sharma said.

France, Barbados, Chad, Australia, India and Peru, the Friends of COP, will advise the UK government and provide expertise on matters related to climate change.

By springtime 2020 when Coronavirus spreaded to many countries around the UN and its agencies started holding meetings through various digital ways. Previously planned meetings were either cancelled or postponed to the later part of 2020. In March it cancelled the Commission on the Status of Women which annually is attended by hundreds of women organizations from all countries.

 The Summer Olympic Games in Tokyo, which was to take place this summer, was postponed until July-August 2021.

Other cancelled or delayed events included a conference in Beijing on the 2030 Agenda for Sustainable Development in May, the UN conference on the Oceans in June in Portugal and discussions in the UN General Assembly on desertification and drought, and on counter-terrorist programs.

Pandemic upends world’s important events from Olympics to UN meetings Read More »

WHO Foundation to support World Health Organization’s projects

Geneva, May 27 – The World Health Organization announced the creation of the WHO Foundation, a legally independent entity which it said can be trusted to implement a program called the “triple billion” goals.

Those goals are WHO’s five-year strategic plan to protect 1 billion people from health emergencies; extend universal health coverage to 1 billion people and assure healthy lives and wellbeing to 1 billion people by 2023. WHO has had difficulties to implement the goals because of funding problems and controversies about its handling of the coronavirus pandemic. It believes that the foundation will fill in the funding gaps as an independent grant-making entity and support WHO’s most pressing global health challenges
The WHO Foundation said in view of Covid-19 pandemic that it will initially focus on emergencies and pandemic response, and it will also raise and disburse funds for all WHO global public health priorities in full alignment with the WHO Member State adopted General Programme of Work.

“An important part of WHO’s future success is broadening its donor base and increasing both the quantity and quality of funds at its disposal,” said Tedros Adhanom Ghebreyesus, WHO Director-General. “The creation of the WHO Foundation, as part of WHO’s transformation, is an important step towards this goal, and towards achieving our mission to promote health, keep the world safe and serve the vulnerable. Today’s announcement is the culmination of more than two years of preparation and hard work by countless individuals and partner organizations. I would like to thank Professor Thomas Zeltner for spearheading this incredible adventure and founding the organization.”

The WHO Foundation, which is headquartered in Geneva and is legally separate from WHO, said it is “an independent grant-making foundation focused on addressing the most pressing global health challenges of today and tomorrow. By funding high-impact initiatives and advancing strategies of innovation, effectiveness, and rapid response, it will support the global health ecosystem. Headquartered in Geneva and legally independent from the WHO, the Foundation will work responsibly with individual donors, the general public and corporate partners to strengthen health systems globally. Specifically, the WHO Foundation will support global public health needs, from prevention, mental health, and non-communicable diseases to emergency preparedness, outbreak response and health system strengthening.”

It said it will “facilitate contributions from the general public, individual major donors and corporate partners to WHO and trusted partners to deliver on high-impact programmes. Its goal is to help broaden WHO’s donor base and work towards more sustainable and predictable funding.  The WHO Foundation will simplify the processing of philanthropic contributions in support of WHO and make such contributions possible on all aspects of health and WHO’s mission.”

“The work of the WHO is vital for both safeguarding and promoting global health – a role that has become all the more crucial in light of the COVID-19 pandemic,” said Zeltner. “WHO’s achievements and contributions to global health and the wellbeing of humanity are tremendous, but we cannot take those accomplishments for granted. The WHO deserves a strong, independent, external advocate who can support and strengthen its impact. I am proud to lead these efforts and to create this missing piece in global health by establishing the WHO Foundation.”

Zeltner founded the WHO Foundation and is a former Secretary of Health of Switzerland and Director-General of the Swiss National Health Authority.

The WHO Foundation said in a press release that it is established under the laws of Switzerland, the Foundation has benefitted from the guidance of an Advisory Group that has included experts in global health, philanthropy, ethics, and finance.  The Foundation’s Board will now assume all governance responsibilities and will review all strategic decisions and serve as the highest decision-making body of the Foundation. Founding Board Members are: Mr. Bob Carter, Ms. Clare Akamanzi and Professor Thomas Zeltner.

A Call to Action: Get Involved with the WHO Foundation
Global health matters for everyone, everywhere. The WHO Foundation is an exceptional opportunity to shape the future of global health together. Be part of this journey, donate now or engage in a long-term strategic partnership and contact the team at partnerships@whfoundationproject.org.  Online giving is active at www.whofoundationproject.org, and tailored donations can be received by contacting donations@whofoundationproject.org. All donations made to the WHO Foundation are tax-deductible to the extent feasible by relevant national laws.

WHO Foundation to support World Health Organization’s projects Read More »

Pandemic to cause drop of $110 billion in remittance to poor countries

New York, June 10 – With the coronavirus pandemic inflicting daily infections and deaths in many countries, the United Nations for the first time ever has informed national leaders of 193 countries that are UN members to stay home and take part in the organization’s most important annual meetings in September only through video conferences.

The decision to hold only virtual meetings has disrupted the elaborate programming of a series of celebrations to mark the 75th anniversary of the creation of the UN.
Since March this year UN meetings were either cancelled or held through a digital platform in order to meet strict health regulations by the US government designed to blunt the spread of coronavirus.

Heads of state and government, or ministers representing them, are asked to send pre-recorded video statements that will be played up during the UN General Assembly session starting on September 22.
Each country can send only two representatives to the assembly meetings and are reminded that they must be physically free of symptoms consistent with Covid-19, maintain physical distancing and wear a face covering while inside the UN premises.

The assembly session each year has been attended by thousands of delegates from the 193 countries.

A commemoration to mark the 75th anniversary of the signing of the Charter of the United Nations on June 26 was to be held via a virtual platform. 

The United Kingdom on May 28 postponed a climate change conference known as COP26 until November 2021, a decision that surprised no one considering that the Covid-19 pandemic’s lockdown and social distancing around the world has already upended the meticulous setup of the program of UN-related meetings this year.

Cop26 was scheduled to take place in November 2020 in Glasgow so an extra 18-month delay would give London and its Italian partners plenty of time to prepare for the annual conference designed to take action on the Paris climate change agreement. Past COP meetings attracted thousands of participants and organizers fear such a vast attendance would cause health risks.

‘With the new dates for COP26 now agreed we are working with our international partners on an ambitious roadmap for global climate action between now and November 2021,” said Alok Sharma, who is CPO26 president. “The steps we take to rebuild our economies will have a profound impact on our societies’ future sustainability, resilience and wellbeing and COP26 can be a moment where the worldunites behind a clean resilient recovery.”
 
“Everyone will need to raise their ambitions to tackle climate change and the
expertise of the Friends of COP will be important in helping boost climate action
across the globe,” Sharma said.

France, Barbados, Chad, Australia, India and Peru, the Friends of COP, will advise the UK government and provide expertise on matters related to climate change.

By springtime 2020 when Coronavirus spreaded to many countries around the UN and its agencies started holding meetings through various digital ways. Previously planned meetings were either cancelled or postponed to the later part of 2020. In March it cancelled the Commission on the Status of Women which annually is attended by hundreds of women organizations from all countries.
The Summer Olympic Games in Tokyo, which was to take place this summer, was postponed until July-August 2021.
Other cancelled or delayed events included a conference in Beijing on the 2030 Agenda for Sustainable Development in May, the UN conference on the Oceans in June in Portugal and discussions in the UN General Assembly on desertification and drought, and on counter-terrorist programs.

Pandemic to cause drop of $110 billion in remittance to poor countries Read More »

Who/US

Geneva, May 19 – A majority of the World Health Organization’s 174 assembly members adopted a resolution calling for the recognition of the “key leadership” of the beleaguered health body as it has been striving to combat the coronavirus pandemic that has caused high death tolls and economic collapses in many countries.


The resolution also urged the initiation at “the earliest appropriate moment, and in consultation with member states, a stepwise process of impartial, independent and comprehensive evaluation” of the experiences and lessons learned in the global fight against the pandemic.


The adoption of the resolution capped a two-day annual meeting of the World Health Assembly, which for the first time ever was held by teleconferencing when most of the world was in a state of locked down to minimize infections and deaths.


The resolution paid tribute to the “dedication, efforts and sacrifices, above and beyond the call of duty of health professionals, health workers and other relevant frontlines workers, as well as the WHO Secretariat, in responding to the Covid-19 pandemic.”


The call for WHO to lead an inquiry into the handling of the pandemic, while supported by all world powers which had been clashing over the responsibility of the origin of the coronavirus, provided no timeline for the inquiry.


WHO Director General Tedros Ghebreyesus agreed to the inquiry. He has been under pressure to do so but gave no hint as to when and how it would be carried out, saying simply that the WHO “remains fully committed to transparency, accountability and continuous improvement.”

Who/US Read More »

UN/Economy

UN: Pandemic to slash global economic output by $8.5 trillion in 2020-21

(Following is the full version of the mid-year update of the World Economic Situation and Prospects 2020 by the United Nations)

New York, 13 May— Against the backdrop of a devastating pandemic, the global economy is projected to contract sharply by 3.2 per cent this year, according to the United Nations World Economic Situation and Prospects (WESP) mid-2020 report.

The global economy is expected to lose nearly $8.5 trillion in output over the next two years due to the COVID-19 pandemic, wiping out nearly all gains of the previous four years.  The sharp economic contraction, which marks the sharpest contraction since the Great Depression in the 1930s, comes on top of anemic economic forecasts of only 2.1 percent at the start of the year. 

The report estimates that GDP growth in developed economies is expected to plunge to -5.0% in 2020. A modest, 3.4% growth – barely enough to make up for the lost output – is expected in 2021. World trade is forecast to contract by nearly 15 per cent in 2020 amid sharply reduced global demand and disruptions in global supply chains.

Nearly 90 per cent of the world economy has been under some form of lockdown, disrupting supply chains, depressing consumer demand and putting millions out of work. Under the baseline scenario, the developed economies are expected to contract by 5.0 per cent in 2020, while the output of developing countries will shrink by 0.7 per cent.

The pandemic is exacerbating poverty and inequality

The pandemic will likely cause an estimated 34.3 million people to fall below the extreme poverty line in 2020, with 56% of this increase occurring in African countries.  An additional 130 million people may join to the ranks of people living in extreme poverty by 2030, dealing a huge blow to global efforts for eradicating extreme poverty and hunger. The pandemic, which is disproportionately hurting low-skilled, low-wage jobs, while leaving higher-skilled jobs less affected – will further widen income inequality within and between countries.

Facing an unprecedented health, social and economic crisis, governments across the world have rolled out large fiscal stimulus measures – equivalent to an estimated 10 per cent of GDP – to combat the pandemic and minimize its livelihood impacts. However, the depth and severity of the crisis foreshadows a slow and painful recovery.

Elliott Harris, UN Chief Economist and Assistant Secretary-General for Economic Development stated that “The pace and strength of the recovery from the crisis not only hinges on the efficacy of public health measures in slowing the spread of the virus, but also on the ability of countries to protect jobs and incomes, particularly of the most vulnerable members of our societies.”

Crisis will likely accelerate shift towards digitalization

The report highlights the pandemic could foster a new normal, fundamentally reshaping human interactions, inter-dependence, trade and globalization, while accelerating digitalization and automation. A rapid surge in economic activities online will likely eliminate many existing jobs, while creating new jobs in the digital economy. The net wage and employment effects could be negative, further aggravating income inequality.

Many developing countries face severe fiscal constraints

Most developing economies – saddled with chronic fiscal deficits and already high levels of public debt – are finding it very hard to implement sufficiently large fiscal packages, which have thus far averaged less than 1% of their GDP. Falling exports and growth are rapidly undermining the debt sustainability of many developing countries, particularly those that are heavily dependent on commodities, tourism revenues or remittances. Growing debt distress poses an enormous challenge to these countries, further constraining their ability to implement much-needed stimulus measures.

Stimulus measures must boost productive investments

The report cautions against the risk of large fiscal and monetary stimulus measures – with trillions of dollars of new liquidity injected into the financial system – contributing to the quick recovery of equity and bond prices, while ignoring productive investments. Global liquidity per capita surged since the Global Financial Crisis in 2008, while productive investment per capita stagnated, the report noted.
Hamid Rashid, Chief of the Global Economic Monitoring Branch and lead author of the report, said “The lesson we learnt from the last crisis is that fiscal and monetary stimulus measures do not necessarily boost productive investments. Governments must encourage businesses receiving its financial assistance to invest in productive capacities. This is a must for protecting decent jobs and preventing further rise in income inequality,”

Stronger international cooperation an imperative  

Stronger global cooperation is critical, especially to contain the pandemic and extend financial assistance to countries hardest hit by the crisis. In the immediate term, the increased availability and rapid deployment of international funds to address liquidity shortages and free up fiscal space is paramount. In addition to these short-term measures, many developing countries – particularly commodity- and tourism- dependent economies – will still need comprehensive debt restructuring to have the fiscal space to stimulate growth and accelerate recovery.  The report underscores a window of opportunity for “recovering better”, with renewed global solidarity enhancing public health systems, building resilience to withstand economic shocks, improving social protection systems worldwide, greening of economies and addressing climate change.

~~~

About the World Economic Situation and Prospects as of mid-2020
The report is a mid-year update of World Economic Situation and Prospects 2020 (United Nations publication, Sales No. E.20.II.C.1), released in January 2020.
For more information, please visit: www.bit.ly/wespmidyear

UN/Economy Read More »

UN/Hatespeech

UN issues strong rebuke of hate speech as pandemic strikes all societies
New York May 8 – UN Secretary General Antonio Guterres called for concerted global action to quash the “tsunami” of hate speech that has risen alongside Covid-19 pandemic.

“Covid-19 does not care who we are, where we live, what we believe or about any other distinction. We need every ounce of solidarity to tackle it together. Yet the pandemic continues to unleash a tsunami of hate and xenophobia, scapegoating and scare-mongering”, he said.

Mr. Guterres listed examples of hate speech that have surfaced during the crisis, ranging from anti-foreigner sentiment, to antisemitic conspiracy theories and attacks against Muslims.

Migrants and refugees also have been “vilified” as a source of the virus and subsequently denied access to treatment, he continued, while “contemptible memes” suggest that older persons are the most expendable in the pandemic.

Meanwhile, journalists, health professionals, aid workers, human rights defenders and others have been targeted simply for doing their jobs.

“We must act now to strengthen the immunity of our societies against the virus of hate”, the Secretary-General said, adding “that’s why I’m appealing today for an all-out effort to end hate speech globally”.

Mr. Guterres called on political leaders to build and reinforce social cohesion, while educational institutions were urged to focus on digital literacy at a time when billions of young people are online, where extremists are also lurking.

He said the media, and particularly social media companies, can also do more to flag and remove racist, misogynist and other harmful content.

“I call on civil society to strengthen outreach to vulnerable people, and religious actors to serve as models of mutual respect”, Mr. Guterres continued.

“And I ask everyone, everywhere, to stand up against hate, treat each other with dignity and take every opportunity to spread kindness”.

The United Nations has been mobilizing against what has been described as a “groundswell” of xenophobia, racism and intolerance.

Last year, the Secretary-General launched the UN Strategy and Plan of Action on Hate Speech to enhance these efforts, which outlines commitments that include supporting countries in policy development.

The UN guidance identifies steps for national authorities and other stakeholders, such as ensuring support services and shelters remain available at this time.

UN/Hatespeech Read More »

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